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The Insolvency Practitioners and Insolvency Account (Fees) (Amendment) Order (Northern Ireland) 2009
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Statutory Rules of Northern Ireland
2009 No. 204
Insolvency
The Insolvency Practitioners and Insolvency Account (Fees) (Amendment) Order (Northern Ireland) 2009
Made
20th May 2009
Coming into operation
1st October 2009
Citation and commencement
1. This order may be cited as the Insolvency Practitioners and Insolvency Account (Fees) (Amendment) Order (Northern Ireland) 2009 and shall come into operation on 1st October 2009.
Amendment to the Insolvency Practitioners and Insolvency Account (Fees) Order (Northern Ireland) 2006
2.—(1) The Insolvency Practitioners and Insolvency Account (Fees) Order (Northern Ireland) 2006(3) (“the principal Order”) shall be amended as provided by paragraphs (2) and (3).
(2) In paragraph 1(7) of Schedule 1 to the principal Order, for “the Companies (Northern Ireland) Order 1986”(4) substitute “the Companies Act 2006”(5).
(3) For the Table of fees in paragraph 2 of Schedule 1 to the principal Order substitute—
“Table
| No. of Fee | Description of fee and circumstances in which it is payable | Amount |
|---|---|---|
| 1 | Banking fee; winding up by the High Court and bankruptcy Where in any bankruptcy or winding up by the High Court an account is maintained with the Department in respect of monies which may from time to time be paid into the Insolvency Account, there shall be payable out of the estate of the bankrupt or, as the case may be, the assets of the company on each payment date where the liquidator or the trustee is not the official receiver, a fee of— | £15.00 |
| 1A | Payment of unclaimed dividends or other money – administration Where any money is paid into the Insolvency Account pursuant to regulation 3B, that payment shall be accompanied by a fee in respect of each company to which it relates of— | £25.00 |
| 1B | Payment of unclaimed dividends or other money – administrative receivership Where any money is paid into the Insolvency Account pursuant to regulation 3C, that payment shall be accompanied by a fee in respect of each company to which it relates of— | £25.00 |
| 2 | Cheque etc. issue fee Where a cheque, money order or payable order in respect of monies in the Insolvency Account is issued or reissued on the application of— (a)a liquidator pursuant to regulation 7 or 8; (b)a trustee pursuant to regulation 22 or 23; or (c)any persons claiming money in that account pursuant to regulation 33, there shall be payable out of the assets of the company, the estate of the bankrupt or, as the case may be, by the claimant a fee in respect of that cheque, money order or payable order of— | £0.80 |
| 3 | Electronic funds systems (CHAPs and BACs etc.) fees On the making or remaking of a transfer in respect of funds held in the Insolvency Account on an application made by— (a)a liquidator pursuant to regulations 7 or 8; (b)a trustee pursuant to regulations 22 or 23; or (c)any person claiming pursuant to regulation 33 any monies held in the Insolvency Account; there shall be payable out of the assets of the company, the estate of the bankrupt or, as the case may be, by the claimant, a fee in respect of that transfer as follows— (i)where it is made through the Clearing House Automated Payments System (CHAPs), a fee of— (ii)where it is made through the Bankers’ Clearing System (BACs) or any electronic funds transfer system other than CHAPs, a fee of— | £10.00 £0.15”. |
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 20th May 2009.
Michael J Bohill
A senior officer of the
Department of Enterprise, Trade and Investment
The Department of Finance and Personnel concurs with the foregoing Order.
Sealed with the Official Seal of the Department of Finance and Personnel on 20th May 2009.
Jack Layberry
A senior officer of the
Department of Finance and Personnel
EXPLANATORY NOTE
(This note is not part of the Order)
This Order amends the Insolvency Practitioners and Insolvency Account (Fees) Order (Northern Ireland) 2006 (S.I. 2006/53) (“the principal Order”) by inserting a new fee where unclaimed or undistributed dividends or other monies are paid into the Insolvency Account. Article 361A under which this Order and the principal Order are made was inserted into the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) by Article 26 of the Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)).
Article 2(2) of this Order reflects that Article 605 of the Companies (Northern Ireland) Order 1986 (companies winding up) will be repealed and replaced by section 1012 of the Companies Act 2006, which comes into force on 1st October 2009. This provides that when a company is dissolved, all property and rights whatsoever vested in or held in trust for the company immediately before its dissolution (including leasehold property, but not including property held by the company on trust for any other person) are deemed to be “bona vacantia” and payable to the Crown.
Article 2(3) updates Schedule 1 to the principal Order which makes provision for the payment of fees in relation to the operation of the Insolvency Account.
Regulation 18 of the Insolvency Regulations (Northern Ireland) 1996 (S.R. 1996 No.574) requires, in the case of a company wound up by the court, and permits, in the case of a voluntary winding up, a Liquidator of a company which has been dissolved to pay into the Insolvency Account any unclaimed or undistributed dividends held by him (“unclaimed dividends”). Two new provisions (Regulations 3B and 3C) inserted into those Regulations by the Insolvency (Amendment) Regulations 2009 make corresponding provision with respect to monies held by an administrator or administrative receiver save that the provisions are not mandatory but permissive. Two new fees (1A and 1B), payable under the new Regulations, are inserted into Schedule 1 to the principal Order, specifying the fee payable upon the making of payments into the Insolvency Account. In each case, the fee is £25 in respect of any one payment in of any unclaimed funds in respect of each company to which those funds relate.
A Regulatory Impact Assessment (RIA) has not been prepared for this Order. An RIA was prepared for the Insolvency (Northern Ireland) Order 2005 which deals with the restructuring of the system for insolvency fees. Copies of this are available from the Legislation Unit, The Insolvency Service, Fermanagh House, 20A Ormeau Avenue, Belfast BT2 8NJ.
(1)
Formerly the Department of Economic Development; S.I. 1999/283 (N.I. 1), Article 3(5)
(2)
S.I. 1989/2405 (N.I. 19); Article 361A is inserted by Article 26 of the Insolvency (Northern Ireland) Order 2005 (S.I.2005/1455 (N.I. 10)).
(5)
2006 C. 46 (Article 605 of the Companies (Northern Ireland) Order 1986 will be repealed and replaced by section 1012 of the Companies Act 2006, which comes into force on 1st October 2009.)
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